Churches Moving Money Out Of Big Banks In Protest Of Foreclosure Actions

Commented Mar 14, 2012 at 12:11:23 in Business

“Here is something the occupy moment might want to get behind. We could hire all of the unemployed, training them to fight corruption. The money saved would more than pay for their salaries. Of course, capitalism with out corruption would probably collapse. It would sure be interesting to know what kind of corruption is taking place in the housing market now. The banks and mortgage companies packaged home loans and turned them into bonds. When home owners defaulted on these loans it left the bond holders holding the bag. Where does the banks and mortgage companies fit into this now? Did they come back and buy these bonds for pennies on the dollar? Are they now foreclosing so they can resell for a profit? I have a feeling that something like this is going on. Very few were aware of what was going on before our near financial meltdown. How many of you out there knew that insurance was being sold on these bonds to people that did not own the bonds? How many still do not know that is the reason for the near financial meltdown? Why does anyone now think that they know what is going on? I hope the occupy movement some how find out what is going on.”